Ministry of Commerce of the People's Republic of C : Top statistician sees inflation pressure easing
06/27/2012| 05:14pm US/Eastern
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Ma Jiantang, China's top statistics official, on Monday
said he expected inflationary pressure to ease a little as the
economy slows this year.
Ma, however, warned of a resurgence in inflation if the problem
is not taken seriously.
"We should by no means lower our guard [against
inflation]," he told Xinhua on the sidelines of the annual
parliamentary session, which opened Monday.
According to a government work report delivered by Premier Wen
Jiabao at the annual parliamentary session, the Chinese
government set the full-year inflation control target for 2012
at 4 percent, unchanged from the target in 2011.
The Consumer Price Index (CPI), a main gauge of inflation, well
exceeded the government's goal and shot up by 5.4 percent
last year.
"Potential factors such as rising labor costs that push up
prices are still there," said Ma, director of the National
Bureau of Statistics, which produces a string of economic data
such as CPI and gross domestic product for the world's
second-largest economy.
"If not properly controlled, the inflation potential will
turn into real risks for our economy," Ma warned.
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